(April 14, 2011 – Orlando, FL) The median price of Orlando area existing-home sales has increased for the second consecutive month – to $103,000 – reports the Orlando Regional REALTOR® Association. However, the March 2011 median price is 6.36 percent less than the median recorded in March 2010.
The increase in overall median price is attributable in part to an increase in the number of “normal” home sales, which have higher selling prices than foreclosures or short sales. The number of normal sales in March (733) is 28.15 percent higher than in February (572).
“Short sales and foreclosures continue to dominate and account for 70.50 percent of sales in March,” says ORRA Chairman of the Board Mike McGraw, McGraw Real Estate Services, PL. “A consistently high percentage of these sales types is something that we want to see; the sooner they flush through the system the sooner we can get back to a market based on normal sales.”
For detailed statistical reports, please visit www.orlrealtor.com and click on “Housing Statistics” on the top menu bar.
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